Polish export credit agency Kuke has launched a €1.5bn transport reinsurance mechanism to cover Polish hauliers in Ukraine.
The scheme is designed to provide insurance cover for risks typically excluded from standard commercial policies, in an effort to protect Polish businesses operating in Ukraine.
It allows Polish hauliers and freight forwarders to access comprehensive protection for their operations across the border, including in projects to rebuild structures damaged by the Russian invasion.
“The reconstruction of Ukraine is a massive opportunity for Polish entrepreneurs, but it comes with obvious risks,” said Andrzej Domański, the Polish Minister of Finance and Economy.
“By mitigating these extraordinary risks, we are not just protecting trucks; we are securing the entire supply chain and paving the way for Polish businesses to lead in the post-war recovery. This is a true model of state support for private enterprise.”
The mechanism – which the ECA says will cover an “insurance gap” that emerged from the war in Ukraine – will see Kuke take 80% of insurers’ risk in exchange for 80% of the insurance premium.
Last year, the European Commission gave Poland the green light to offer the reinsurance, finding it complies with the bloc’s state aid rules and is “necessary, appropriate and proportionate”.
The country’s largest commercial insurer, PZU, has become the first to sign up for the scheme, which is available to all domestic insurers until the end of June 2027.
The programme applies to both road and rail transport, and allows insurers to cover risks, including war, terrorism and sabotage and property confiscation, as well as expanded transport insurance protection for cargo, third-party liability and collision and casualty.
Kuke’s CEO Janusz Wladyczak said the agency was the first in the European Union to provide this type of support, which would ensure “full operational capacity in the Ukrainian market” for Polish carriers while driving the growth of Polish exports.
“It is worthwhile to utilise these unique European instruments to support expansion in challenging conditions,” he added.
PZU president Bogdan Benczak added the launch of the programme ended “a period of uncertainty for Polish carriers, who until now often had to enter Ukraine without coverage for significant property risks”.
